Discussing how the Dow futures are trading lower ahead of the upcoming CPI numbers, which may impact the markets. The TSX saw strong gains, driven by Shopify’s impressive 21% rally, which helped stabilize the index. Whiteside reviews key resistance points and exit strategies for Shopify (TSX:SHOP) and the SPY (NYSE:SPY) as they approach significant levels, emphasizing the importance of managing trades as stocks reach high targets.
We also break down recent shifts in commodities, with mixed moves in gold and crude oil, and highlights the VIX's sell signal, which supports higher stock prices. We provide insights into notable stock movements, such as Tesla’s reversal and Micron’s resistance challenges, along with updates on Canadian stocks like Cameco (TSX:CCO) and Nutrient. The session closes with an outlook on energy stocks and a preview of the CPI release's potential market impact.
This content was originally posted on the Stock Market Timing YouTube Channel